Research analysts at Susquehanna began coverage on shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) in a research report issued on Tuesday. The firm set a “neutral” rating on the stock.

Other equities analysts have also recently issued reports about the company. Roth Capital initiated coverage on Applied Micro Circuits Corp. in a research report on Thursday, September 1st. They set a “buy” rating and a $8.00 target price for the company. BMO Capital Markets restated a “hold” rating and set a $7.00 target price on shares of Applied Micro Circuits Corp. in a research report on Thursday, July 28th. Zacks Investment Research upgraded Applied Micro Circuits Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of Applied Micro Circuits Corp. in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Applied Micro Circuits Corp. has a consensus rating of “Hold” and an average target price of $8.21.

Analyst Recommendations for Applied Micro Circuits Corp. (NASDAQ:AMCC)

Shares of Applied Micro Circuits Corp. (NASDAQ:AMCC) opened at 6.94 on Tuesday. The firm’s market cap is $592.44 million. Applied Micro Circuits Corp. has a 1-year low of $4.93 and a 1-year high of $7.68. The company’s 50-day moving average price is $7.03 and its 200 day moving average price is $6.58.

Applied Micro Circuits Corp. (NASDAQ:AMCC) last posted its earnings results on Wednesday, July 27th. The company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Applied Micro Circuits Corp. had a negative return on equity of 31.29% and a negative net margin of 21.91%. The business had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $41.51 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. Applied Micro Circuits Corp.’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Applied Micro Circuits Corp. will post ($0.05) EPS for the current year.

Several large investors have recently added to or reduced their stakes in AMCC. Macquarie Group Ltd. raised its stake in Applied Micro Circuits Corp. by 36.1% in the second quarter. Macquarie Group Ltd. now owns 2,713,104 shares of the company’s stock worth $17,418,000 after buying an additional 719,568 shares during the period. Lord Abbett & CO. LLC bought a new stake in Applied Micro Circuits Corp. during the second quarter worth $3,904,000. Quentec Asset Management LLC bought a new stake in Applied Micro Circuits Corp. during the first quarter worth $2,523,000. Emerald Acquisition Ltd. bought a new stake in Applied Micro Circuits Corp. during the second quarter worth $2,015,000. Finally, Vanguard Group Inc. raised its stake in Applied Micro Circuits Corp. by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,371,609 shares of the company’s stock worth $40,905,000 after buying an additional 239,326 shares during the period. 76.24% of the stock is owned by institutional investors.

About Applied Micro Circuits Corp.

Applied Micro Circuits Corporation (AMCC) provides silicon solutions for cloud infrastructure and data centers, as well as connectivity products for edge, metro and long haul communications equipment. The Company’s products serve Computing and Connectivity markets. Its Computing products include the X-Gene family of server processors, based on the ARMv8 64-bit Instruction Set Architecture (ISA), which target mainstream cloud and data center infrastructure, including hyperscale, telco, enterprise and high performance computing.

5 Day Chart for NASDAQ:AMCC

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